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21 Loans and Financing
 12 Months Ended
Dec. 31, 2020
Loans And Financing [Abstract]  
Loans and Financing
21 Loans and Financing
                         
                Contractual Effective   12.31.2020 12.31.2019
        Issue Number of  Final Payment financial interest Contract
Contracts Company Allocation Guarantees Date installment maturity of charges  charges p.y. rate p.y. amount
FOREIGN CURRENCY                         
 National Treasury Department (STN - Secretaria do Tesouro Nacional)                        
Par Bond Copel Debt negotiation Guarantees deposited(21.1).  05.20.1998  1 04.11.2024 Half-yearly 6.0% + 0.20% 6.0% + 0.20%  17,315  82,933  64,325
Discount Bond 05.20.1998 1 04.11.2024 Half-yearly 2.8125% + 0,20% 2.8125% + 0,20%  12,082  57,404  44,658
Total foreign currency                       140,337  108,983
LOCAL CURRENCY                         
Banco do Brasil                        
CCB 306.401.381 (a) Copel HOL  Working Capital Credit assigment 12.19.2019 5 03.25.2022 Quarterly 120.00% of DI 126.99% of DI  640,005  640,177  640,530
NCI 306.401.445 Copel HOL 02.24.2017 2 02.15.2020 Half-yearly 124.5% of DI 136.15% of DI  77,000 -  39,446
                       640,177  679,976
Eletrobras                        
983/95    National Program for Watering - Proni.  Own revenue; issue of promissory notes and commercial duplicates.  12.22.1994 80 11.15.2020 Quarterly 8.0% 8.0%  11 -  26
984/95  12.22.1994 80 11.15.2020 Quarterly 8.0% 8.0%  14 -  11
985/95  12.22.1994 80 08.15.2021 Quarterly 8.0% 8.0%  61 -  11
206/07  Rural Electricity Program - Luz para Todos. 03.03.2008 120 08.30.2020 Monthly 5.0%+ 1.0% 5.05%  109,642 -  5,953
273/09  02.18.2010 120 12.30.2022 Monthly 5.0%+ 1.0% 5.0%+ 1.0%  63,944 -  4,933
                      -  10,934
Caixa Econômica Federal                        
415.855-22/14  Copel DIS Rural Electricity Program - Luz para Todos. Own revenue; issue of promissory notes and commercial duplicates. 03.31.2015 120 12.08.2026 Monthly 6.0% 6.0%  16,984  11,496  13,410
3153-352 Acquisition of machinery, equipment and IT and automation equipment. Assignment of trade notes receivable. 11.01.2016 36 12.15.2021 Monthly 5.5 % above TJLP 5.5 % above TJLP  1,156 165 331
                       11,661  13,741
Finep                        
21120105-00 Copel Tel BEL project - ultra wide band intranet service (Ultra Wide Band - UWB). Lock of proceeds received in current account. 07.17.2012 81 10.15.2020 Monthly 4.0% 4.39% - -  2,626
21120105-00  07.17.2012 81 10.15.2020 Monthly 3.5% + TR  3.88% + TR - -  2,219
                      -  4,845
Banco do Brasil - BNDES Transfer                        
21/02000-0 Copel GeT Implementation of Mauá HPP. Revenue from energy sales from the plant. 04.16.2009 179 01.15.2028 Monthly 2.13% above TJLP 2.13% above TJLP  169,500  83,936  95,807
                       83,936  95,807

(a) On March 25, 2021, the debt was renegotiated, with the final maturity date being changed to March 25, 2023 and the amount of financial charges to 135% of the DI p.y.

                           
                Contractual Effective   12.31.2020 12.31.2019
        Issue Number of  Final Payment financial interest Contract
Contracts Company Allocation Guarantees Date installment maturity of charges  charges p.y. rate p.y. amount
BNDES                        
820989.1  Copel GeT Implementation of Mauá HPP. Revenue from energy sales from the plant. 03.17.2009 179 01.15.2028 Monthly 1.63% above TJLP 1.63% above TJLP 169,500 83,935 95,807
1120952.1 Implementation of transmission line between Foz do Iguaçu and Cascavel Oeste substations. Assignment of receivables; revenue from energy transmission services. 12.16.2011 168 04.15.2026 Monthly 1.82% and 1.42% above TJLP 1.82% and 1.42% above TJLP 44,723 17,756 21,090
1220768.1  Implementation of Cavernoso II SHP. Revenue from energy sales from the plant. 09.28.2012 192 07.15.2029 Monthly 1.36% above TJLP 1.36% above TJLP 73,122 41,405 46,240
13211061 Implementation of Colíder HPP. Assignment of receivables 12.04.2013 192 10.15.2031 Monthly 0% and 1.49% above TJLP 6.43% and 7.68%  1,041,155 748,083 817,329
13210331 Implementation of Cerquilho III substation. 12.03.2013 168 08.15.2028 Monthly 1.49% and 1.89% above TJLP 1.49% and 1.89% above TJLP 17,644 10,069 11,385
15206041 Implementation of transmission line Assis - Paraguaçu Paulista II. 12.28.2015 168 06.15.2030 Monthly 2.42% above TJLP 9.04% 34,265 20,280 22,419
15205921 Implementation of transmission lines Londrina - Figueira and Salto Osório - Foz do Chopim. 12.28.2015 168 12.15.2029 Monthly 2.32% above TJLP 8.93% 21,584 12,171 13,526
18205101 Implementation of Baixo Iguaçu HPP. 11.22.2018 192 06.15.2035 Monthly 1.94% above TJLP 8.5% 194,000 184,087 196,827
19207901- A+B+E+F+G+H Implementation of transmission facilities for the line: substation Medianeira; substation Curitiba Centro and Curitiba Uberaba and substation Andirá Leste.  06.03.2020 279 12.15.2043 Monthly IPCA + 4.8165% IPCA + 4.8570% 206,882 158,351  -
19207901- C+D+I+J Implementation of transmission facilities for the line: transmission line Curitiba Leste - Blumenal and Baixo Iguaçu - Realeza.  06.03.2020 267 12.15.2043 Monthly  IPCA + 4.8165%   IPCA + 4.8570%  225,230 110,699  -
14205611-A  Copel DIS Preservation of business, improvements, operating support and general investments in the expansion and consolidation of projects and social investment programs of companies (ISE). Surety of Copel; assignment of revenues and indemnity rights under the concession. 12.15.2014 72 01.15.2021 Monthly 2.09% above TJLP 8.37% 41,583 585 7,611
14205611-B  12.15.2014 6 02.15.2021 Annual 2.09 above TR BNDES 2.09 above TR BNDES 17,821 4,329 8,288
14205611-C  12.15.2014 113 06.15.2024 Monthly 6.0% 6.0% 78,921 27,434 35,267
14205611-D 12.15.2014 57 02.15.2021 Monthly TJLP TJLP 750 2 11
14.2.1271.1 Santa Maria Construction and implementation of wind generating plants. Surety of Copel; pledge of shares; assignment of receivables and revenues. 06.01.2015 192 08.15.2031 Monthly 1.66% above TJLP 8.26% 71,676 41,665 45,582
14.2.1272.1 Santa Helena 06.01.2015 192 08.15.2031 Monthly 1.66% above TJLP 8.26% 82,973 45,208 49,458
11211521 GE Farol Pledge of shares; assignment of receivables from energy sales from the project; assignment of machinery and equipment.
 03.19.2012 192 06.15.2030 Monthly 2.34% above TJLP 2.34% above TJLP 54,100 37,470 41,388
11211531 GE Boa Vista 03.19.2012 192 06.15.2030 Monthly 2.34% above TJLP 2.34% above TJLP 40,050 27,701 30,598
11211541 GE S.B. do Norte 03.19.2012 192 06.15.2030 Monthly 2.34% above TJLP 2.34% above TJLP 90,900 62,824 69,394
11211551 GE Olho D'Água 03.19.2012 192 06.15.2030 Monthly 2.34% above TJLP 2.34% above TJLP 97,000 67,096 74,112
18204611 Cutia Pledge of shares; assignment of receivables. 10.25.2018 192 07.15.2035 Monthly 2.04% above TJLP 8.37% 619,405 588,169 611,457
13212221 - A Costa Oeste Implementation of transmission line between Cascavel Oeste and Umuarama Sul substations and implementation of Umuarama Sul substation. Assignment of receivables; 100% of pledged shares. 12.03.2013 168 11.30.2028 Monthly 1.95% + TJLP 1.95% + TJLP 27,634 17,046 19,203
13212221 - B 12.03.2013 106 09.30.2023 Monthly 3.5% 3.5% 9,086 2,194 2,992
14205851 - A Marumbi Implementation of transmission line between Curitiba and Curitiba Leste and implementation of Curitiba Leste substation. 07.08.2014 168 06.30.2029 Monthly 2.00% + TJLP 2.00% + TJLP 33,460 22,029 24,627
14205851 - B 07.08.2014 106 04.30.2024 Monthly 6.0% 6.0% 21,577 7,550 9,813
                       2,338,138  2,254,424
                         
Total local currency                      3,073,912  3,059,727
                     Gross debt   3,214,249  3,168,710
                    (-) Transaction cost  (25,718)  (26,327)
                    Net debt  3,188,531  3,142,383
                     Current  717,677 255,521
                     Noncurrent   2,470,854  2,886,862
DI - Interbank Deposit Rate
IPCA - Inflation Index (Índice Nacional de Preços ao Consumidor Amplo, in Portuguese)
TJLP - Long-term interest rate
TR - Referential Rate
21.1 Collateral and Escrow deposits– STN

Constitution of guarantees, in the form of a cash guarantee, Par Bond, in the amount of R$ 78,764 (R$ 57,968 at December 31, 2019), and Discount Bond, in the amount of R$ 54,757 (R$ 40,465 at December 31, 2019) intended to the repayment of the amount of principal related to the STN contracts, upon maturity on April 11, 2024. The amounts are adjusted by applying the weighted average of the percentage changes of the Zero Coupon Bond prices of the United States of America Treasury, by the percentage share of each series of the instrument in the portfolio of collateral for repayment of principal, constituted pursuant to the Brazilian Financing Plan of 1992.

21.2 Breakdown of loans and financing by currency and index
           
    12.31.2020 % 12.31.2019 %
Foreign currency - change in currencies in the period (%)          
U.S. Dollar 28.93 140,337  4.40 108,983  3.47
    140,337  4.40 108,983  3.47
Local currency - indexes at period end (%)          
TJLP 4.55  2,090,340  65.58  2,271,187  72.30
CDI 1.90 638,431  20.02 676,720  21.54
TR 0.00  - - 2,202  0.07
IPCA 4.52 270,749  8.49 8,288  0.26
Without indexer (annual fixed rate)  - 48,674  1.51 75,003  2.36
     3,048,194  95.60  3,033,400  96.53
     3,188,531  100.00  3,142,383  100.00
21.3 Maturity of noncurrent installments
       
12.31.2020 Gross debt (-) Transaction cost Net debt
2022 328,538 (2,054) 326,484
2023 202,249 (1,732) 200,517
2024 337,272 (1,738) 335,534
2025 195,764 (1,735) 194,029
2026 195,846 (1,738) 194,108
After 2026  1,233,752 (13,570)  1,220,182
   2,493,421 (22,567)  2,470,854
21.4 Changes in loans and financing
       
  Foreign currency  Local currency  Total 
Balance as of January 1, 2019 104,751  3,942,556  4,047,307
Funding -  796,296  796,296
Charges  5,599  268,950  274,549
Monetary and exchange variations  4,170  6,907  11,077
Amortization - principal - (1,660,869) (1,660,869)
Payment - charges (5,537) (320,440) (325,977)
Balance as of December 31, 2019 108,983  3,033,400  3,142,383
Funding -  263,000  263,000
Charges  6,928  176,337  183,265
Monetary and exchange variations  31,189  5,869  37,058
Amortization - principal - (253,700) (253,700)
Payment - charges (6,763) (176,712) (183,475)
Balance as of December 31, 2020 140,337  3,048,194  3,188,531
(a) Reclassification to Assets classified as held for sale (Note 40).      
21.5 Covenants

 

The Company signed loans and financing agreements containing covenants that require economic and financial ratios to be maintained within pre-determined parameters, requiring annual fulfillment and other conditions to be complied with, such as not changing the Company's interest in the capital stock of subsidiaries that would represent change of control without prior consent. Failing to fulfill these conditions may lead to accelerated debt repayment and/or fines.

 

At December 31, 2020, all financial indicators measured annually and agreed commitments have been fully met.

 

The financial covenants contained in the agreements are presented below:

       
Company Contract Annual financial index Limit
Copel GeT BNDES Finem No. 820989.1 - Mauá EBITDA /  Net financial results  ≥ 1,3
Banco do Brasil No. 21/02000-0 - Mauá
Copel DIS BNDES Finem No. 14205611 Financial indebtedness / adjusted EBITIDA ≤ 4,0
Santa Maria BNDES Finem No. 14212711 Debt service coverage ratio ≥ 1,3
Santa Helena BNDES Finem No. 14212721
São Bento Energia, Investimento e Participações BNDES Assignment Agreement Debt service coverage ratio ≥ 1,3
GE Boa Vista S.A. BNDES Finem No. 11211531
GE Farol S.A. BNDES Finem No. 11211521
GE Olho D´Água S.A. BNDES Finem No. 11211551
GE São Bento do Norte S.A. BNDES Finem No. 11211541
Cutia BNDES Finem No. 18204611 Debt service coverage ratio (a) ≥ 1,2
Costa Oeste BNDES Finem No. 13212221 Debt service coverage ratio ≥ 1,3
Marumbi BNDES Finem No. 14205851 Debt service coverage ratio ≥ 1,3
Financing for businesses - Finem
(a) financial ratio calculated based on the amounts of the consolidated financial statements of Cutia Empreendimentos Eólicos S.A.